1. Identify current trends in performance management, the healthcare industry, and an economy of low unemployment. Use this...

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1. Identify current trends in performance management, the healthcare industry, and an economy of low unemployment. Use this (https://www.mckinsey.com/industries/healthcare/our-insights/the-future-of-us-healthcare-whats-next-for-the-industry-post-covid-19#/) as the main article, and find additional sources.








2. Using the resources from above, how can a healthcare organization called TFHS can improve the following issues?








  • The recent employee turnover rate has become alarmingly high at TFHS. In fact, almost 30 percent of new hires quit in their first 90 days. Turnover for the rest of the staff is also high, with approximately 20 percent retiring or leaving for other employment in the last year.



  • Increases in healthcare and operating costs coupled with decreases in reimbursements have resulted in the organization reducing its staff by 5 percent through layoffs, retirements, or attrition.



  • Reimbursement issues have led to a decrease in in-patient psychiatric care and nephrology. The reduction in these services has met with some disappointment in the communities they serve.






Answered 1 days AfterNov 27, 2023

Answer To: 1. Identify current trends in performance management, the healthcare industry, and an economy of low...

Dr Insiyah R. answered on Nov 28 2023
11 Votes
1. Identify current trends in performance management, the healthcare industry, and an economy of low unemployment.
The article identifies several current trends in p
erformance management and the healthcare industry in the context of an economy with low unemployment:
1. Performance Management and Healthcare Industry:
There is an acceleration in the shift of healthcare profit pools, which is expected to drive changes in business models across diversification, vertical integration, and new business building.
The healthcare industry is seeing a transition from high-cost acute and post-acute sites to lower-cost settings such as freestanding and non-acute sites, with an increased demand for home-based services and virtual care.
There has been a growth in the payer and provider profit pools, with expectations of continued rise driven by an ageing population and innovation in care delivery and technology.
A shift toward government segments in the payer market is expected due to the growth in the over-65 population and the popularity of Medicare Advantage.
The healthcare services and technology (HST) segment, especially software and platforms, data, and analytics, is experiencing rapid growth.
Pharmacy services are evolving with a significant increase in drug spending, particularly in speciality drugs.
2. Economy with Low Unemployment:
The labour market recovery post-COVID-19 has led to a shift in healthcare enrollment from Medicaid to individual and commercial markets. However, the growth in managed Medicaid is expected to be substantial, which could indicate a shift in the healthcare market corresponding to employment trends.
The movement...
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